From Juliana Taiwo-Obalonye, Abuja
A new policy has been approved by the Federal Executive Council (FEC), which was presided over by Vice President Yemi Osinbajo. This policy totally transforms the sports industry into a revenue-generating industry for both the public and commercial sectors.
Minister of Sports and Youth Development, Sunday Dare, who disclosed this to State House Correspondents after the weekly Council meeting at the Presidential Villa, Abuja said the approval was for the National Sports Industry Policy (NSIP) 2022-2026.
Dare noted that with the approval, sports in the nation have added a structured business portfolio to the recreational value, and that the new policy has provided for various categories of the sports sector stakeholders, including young people, who make up the majority of the sports enthusiast population.
He also revealed that the policy has a number of sections dealing with sports governance rules, goals for developing the infrastructure, and other modules meant to standardize the sports industry.
“This afternoon, the Federal Executive Council, chaired by His Excellency, the Vice President, approved the National Sports Industry Policy (NSIP) 2022-2026.